2022 (5) TMI 315

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....022<br>Company Appeal (AT) (Insolvency) No. 469 of 2022 - -<br>Insolvency & Bankruptcy<br>[Justice Ashok Bhushan] Chairperson And [Ms. Shreesha Merla] Member (Technical) For the Appellant : Mr. Abhishek Anand, Mr. Viren Sharma, Mr. Karan Kohli, Advocates. ORDER ( Virtual Mode ) Heard Mr. Abhishek Anand, Advocate for the Appellant. 2. This Appeal has been filed against the Order dated 24th Feb....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ution of the CoC which could be decided by the Adjudicating Authority only on 24th February, 2022. The Adjudicating Authority after approving the replacement issued direction in paragraph 12 to the following:- "Accordingly, I.A. No. 341/2021 is disposed of with the following directions: a. Mr. Khushvinder Singhal, Resolution Professional, shall hand over the entire record and the assets of the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rst meeting after the replacement of Resolution Professional." 4. Mr. Abhishek Anand, Advocate for the Appellant submits that there was no occasion for issuing direction to reconstituted CoC to consider the CIRP fees of the Appellant which having already been approved in the earlier CoC meeting held on 17th May, 2021. 5. We have considered the submissions of the Learned Counsel for the Appellant....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... 7. Mr. Abhishek Anand, Advocate further submits that in view of the Regulation 12 (3) proviso, the decision taken by CoC could not affect the validity of any decision taken by the Committee. Regulation 12 of CIRP Regulation, 2016 is as follows: "12. Submission of proof of claims. (1) Subject to sub-regulation (2), a creditor shall submit 21[claim with proof] on or before the last date menti....